Covid Business Update

TREC/Teton Valley Chamber

 COVID Business Update
  May 21, 2020

  • General Update
  • Paycheck Protection Program Update, Forgiveness
  • Idaho Rebounds Grants
  • COVID Safety Supplies Sourcing Program
  • Farm and Ranch Support

General Update:

As businesses begin to open up under Governor Little’s phased rebound program, TREC/Chamber of Commerce’s focus is on supporting safe reopening practices, encouraging visitors to come and recreate responsibly, and our usual range of business retention and recruiting services.

The Teton Geo Center will remain closed until at least July 1 to protect our senior volunteer staff. The lobby area will continue to be stocked with brochures and publications, however, this summer tourism season will largely be “self-serve.” Visitors and residents can find abundant advice and resources at http://discovertetonvalley.com/

We have had great conversations with hotels, restaurants, retailers and other businesses in the valley. Most are employing diligent COVID-19 safety protocols. We encourage you to reward them with your business.

Thanks to a generous matching grant from the Teton Valley News, we’ve been able to purchase four weeks of ads featuring our COVID safety posters. Many thanks to designer Jill Goodson.

Following are updates on the various support programs available. Some of this info has already been distributed by our colleagues at the Downtown Driggs Association, but we thought a broader distribution was worth the redundancy.

Paycheck Protection Program Update, Forgiveness:

The National Federation of Independent Businesses (NFIB) recently conducted a webinar on “COVID-19 and PPP Forgiveness.” They talked about the fact that small businesses should still apply for the PPP as there is still over $100 Billion in the CARES fund. They also gave information on calculating your loan forgiveness under the Paycheck Protection Program: https://www.nfib.com/assets/NFIB-PPP-Loan-Forgiveness-Sheet-05202020-web.pdf

Some additional information can be found here: https://www.nfib.com/assets/NFIB-Webinar-05-20-20.pdf

Idaho Rebounds Grants:

There will be a round three of Idaho Rebound Small Business Grants.  Self-employed individuals economically impacted by COVID-19 now may be eligible to receive up to $7,500 in cash support through the Idaho Rebound cash grants for small businesses. The application cycle for self-employed individuals will start on May 27. Applicants need to create a Taxpayer Access Point (TAP) account and are encouraged to do so prior to their application phase opening.  To learn more click here.

Grantees for the first round of Idaho Rebound Grants are up on Transparent Idaho website.

COVID Safety Supplies Sourcing Program: 

To assist qualified organizations within the state of Idaho in acquiring non-medical/emergency supplies—masks, gloves, sanitizer–the Idaho Department of Administration is consolidating demand and purchasing large quantities to distribute throughout the state. Submit your request through this site:

https://supplies.idaho.gov/

Farm and Ranch Support:

Coronavirus Food Assistance Program (CFAP), is a new program which will provide up to $16 billion in direct payments to deliver relief to America’s farmers and ranchers impacted by the coronavirus pandemic. For additional information on payment structure and how agricultural businesses can apply for assistance, please visit:  https://www.farmers.gov/cfap

Resources:

http://discovertetonvalley.com/resources-for-business/

As always, we are eager to hear your ideas and suggestions. Email: brianm@trec-biz.org